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Home | News | Market Studies

Unemployment Rate Falls Year-Over-Year in 42 States, D.C.

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Though regional and state unemployment rates changed little from September to October, 42 states and the District of Columbia saw year-over-year declines in their respective unemployment rates, according to the October 2014 Regional and State Employment and Unemployment report released by the U.S. Bureau of Labor Statistics (BLS).

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Economic Forecast Exceeds October Predictions

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The continuing improvement comes as consumers express a more optimistic outlook for the economy and their own finances. Last week, the University of Michigan/Thomson Reuters preliminary reading of consumer sentiment hit its highest level in more than seven years, spurred by improving labor conditions and cheaper gasoline prices.

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Unemployment Rate Low, But Number of Americans ‘Not in Labor Force’ Near All-Time High

unemployment

The October 2014 Employment Situation Summary released by the U.S. Bureau of Labor Statistics (BLS) on November 7 reported a nationwide unemployment rate of 5.8 percent, the lowest level in more than six years. However, a report released recently by the Pew Research Center indicates that while the U.S. unemployment rate is low, the number of people who are "not in the labor force," meaning they are not counted among the unemployed in the BLS survey, is near an all-time high.

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